PMET Resources (PMET) Corporate presentation summary

Updated feasibility and project scale

• CV5 Probable Mineral Reserve: 83.0 Mt at 1.27% Li₂O and 148 ppm Ta₂O₅; the project is positioned as the largest lithium pegmatite reserve in the Americas.

• Updated study outlines ~800 ktpa SC5.5 capacity and ~635,000 lb of contained Ta₂O₅ per year on average over a ~20-year mine life.

• CV5 Phase 1 targets 2.2 Mtpa throughput, followed by 2.9 Mtpa in Phase 2; total development net CAPEX is CA$1.675B.

Economics and capital

• Base case after-tax NPV8 is CA$5.1B, IRR 40.4%, and payback 2.7 years, using SC5.5 pricing of US$1,788/t and Ta₂O₅ pricing of US$120/lb.

• FOB Quebec ports cash operating cost is US$433/t and AISC is US$480/t, including a US$108/t tantalum credit; both are non-IFRS measures.

• At 2025 FS lithium-price and FX assumptions, updated after-tax NPV rose 44% to CA$2.29B, IRR increased to 24.6% from 18.1%, and AISC fell 18% to CA$657/t.

• Phase 1 net CAPEX is CA$1.08B; across both phases, total development capital increased 4% to CA$2.063B before credits.

Mine plan and processing

• UG-first sequencing targets high-grade Nova Zone ore averaging ~1.7% Li₂O in Years 1–5; the Nova underground reserve component includes 12.6 Mt at 2.04% Li₂O on a fully diluted basis.

• Phase 1 output is forecast to reach 564 ktpa in Year 3; Years 1–3 cumulative concentrate is 1,404 kt, 45% above the 2025 FS estimate.

• A single-stage DMS flowsheet reduces plant footprint ~30%; LOM lithium recovery increases to 69.7% from 68.9%, with >74% recovery targeted in Phase 1’s first three years.

• Tantalum recovery uses a CA$25M bolt-on process; the study estimates a ~CA$148/t SC5.5 LOM credit and a secondary concentrate grading 20% Ta₂O₅.